G20 Foundation Publications Russia 2013 | Page 60

60 climate change & sustainabilit y climate change & sustainabilit y Achim Steiner, UN Under-Secretary General and Executive Director, UN Environment Programme (UNEP) Climate change: time to go that extra mile In terms of climate change, the world is heading into uncharted waters as leaders of the most industrialised countries prepare to gather for the G20 summit hosted by Russia in St. Petersburg. In May NASA’s Mauna Loa Observatory in Hawaii announced that the concentration of carbon dioxide - the most important heat-trapping gas - in Earth’s atmosphere had passed a level of 400 parts per million (ppm) for the first time in human history. With world population expected to increase from 7 billion to over 9 billion by 2050, experts from the World Bank, the International Energy Agency, the United Nations Environmental Programme (UNEP) and other organisations estimate that global average temperatures may rise as much as  4-5°C this century without decisive and defining action. …world population expected to increase from 7 billion to over 9 billion by 2050… But this sobering reality in many ways masks some remarkable transformations in the global economy which if accelerated and scaled-up could lead to the kinds of emission cuts scientists say are needed by 2020 and beyond to keep a global temperature rise under 2°C. For example in 2012 investment worldwide in the renewable sector was $244 billion, a 12% decrease over the year but still the second highest total recorded. Indeed since 2006, some $1.3 trillion has been invested. The geographical spread is also encouraging with China but also other developing countries such as South Africa, Morocco, Mexico and Chile making increasingly significant investments. A drop in the cost of solar photovoltaic technology, by about one- third since 2011, has also brought the price of small-scale residential solar energy much closer to competitiveness with fossil fuels - an important democratisation of the climate change challenge putting the levers of change into the hands of households and individual citizens. There remain those who say renewables cannot be scaled-up, but this is also being consigned to history. In July for example Germany generated a record 23.9 Gigawatts (GW) of electricity from solar, enough to power 2.3 million homes. It now generates a quarter of all electricity from renewable sources. In the same month, the world’s two largest economies - and largest emitters 61